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Third Wave Technologies, Inc. (TWTI) And 3M Announce Agreement For Advanced Molecular Diagnostic Platform


10/19/2005 5:10:39 PM

MADISON, Wis., Aug. 26 /PRNewswire-FirstCall/ -- Third Wave Technologies Inc. and 3M today announced the signing of a supply agreement that will provide Third Wave customers with the option of coupling the accuracy and ease of use of its Invader(R) technology, a novel DNA and RNA analysis chemistry, with 3M's microfluidic technology. This innovative, new platform option will enable clinical laboratories to forgo the numerous liquid-handling steps, improving lab efficiency and shortening the time to test results.

Under the agreement, 3M Bioanalytical Technologies Project will supply Third Wave with its innovative microfluidic technology.

The availability of the 3M platform will enhance Third Wave's molecular diagnostic product offering by providing customers with a platform option that will extend the Invader(R) technology's simplicity and ease of use. Enabling laboratories to pair new Invader(R) products with the 3M platform can allow them to cut their technician hands-on time by reducing the number of liquid-handling steps, for example.

"We're excited to combine 3M's innovative microfluidic technology with Third Wave's Invader(R) chemistry to provide customers with an exciting diagnostic platform," said Gregg Vandesteeg, staff vice president, research and development, 3M Health Care Business. "Our microfluidic platform and Third Wave's Invader(R) products are ideal complements."

"Third Wave is very pleased to partner with 3M, a world leader in health care innovation, to offer an exceptional platform option to our customers," said John Puisis, president and chief executive officer of Third Wave. "Our agreement with 3M will enable us to provide an innovative, valuable solution that responds to our customers' desire for even simpler and easier-to-use molecular diagnostic products."

About 3M

3M Bioanalytical Technologies Project -- part of the 3M Health Care family -- provides innovative technology for molecular diagnostics and genetics-based testing. 3M Health Care, the largest of seven major 3M businesses, is dedicated to improving the practice, delivery and outcome of care in medical, dental, pharmaceutical, health information and personal care markets. 3M is an $18 billion diversified technology company headquartered in St. Paul, Minn.

About Third Wave Technologies

Third Wave Technologies is a leader in the development and marketing of molecular diagnostics for a variety of DNA and RNA analysis applications, providing physicians and researchers with superior tools to diagnose and treat disease. Third Wave's Invader(R) technology provides the company's customers with exceptional accuracy, scalability and ease of use. The company offers a number of clinical products based on its Invader(R) technology for genetic testing related to multiple disease areas. For more information about Third Wave and its products, please visit the company's website at http://www.twt.com/ .

All statements in this news release that are not historical are forward-looking statements within the meaning of the Securities Exchange Act of 1934 as amended. Such forward-looking statements are subject to factors that could cause actual results to differ materially for Third Wave from those projected. Those factors include risks and uncertainties relating to technological approaches of Third Wave and its competitors, product development, manufacturing, market acceptance, cost and pricing of Third Wave products, dependence on collaborative partners and commercial customers, successful performance under collaborative and commercial agreements, competition, the strength of the Third Wave intellectual property, the intellectual property of others and other risk factors identified in the documents Third Wave has filed, or will file, with the Securities and Exchange Commission. Copies of the Third Wave filings with the SEC may be obtained from the SEC Internet site at http://www.sec.gov/ . Third Wave expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained hereinto reflect any change in Third Wave's expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based. Third Wave Technologies, Invader and the Third Wave logo are trademarks of Third Wave Technologies, Inc.

Third Wave Technologies Inc.

CONTACT: Rod Hise, Director, Corporate Communications & InvestorRelations of Third Wave Technologies, +1-608-663-4010; investors, StephanieDiaz, +1-415-885-2298, or media, Tim Brons, +1-646-319-8981, both of VidaCommunication; or John Cornwall, 3M Public Relations & CorporateCommunications, +1-651-733-7698, or Glenn Carter, 3M Public Relations &Corporate Communications, +1-651-737-0687, both of 3M



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